MIRA INFORM REPORT

 

 

Report No. :

341584

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

DÉCOR TRENDS (PTY) LTD

 

 

Registered Office :

53 Ocean Spirit Avenue, Sandrift, Milnerton, Western Cape, 7441

 

 

Country :

South Africa

 

 

Date of Incorporation :

05.02.2015

 

 

Com. Reg. No.:

2015/015876/07

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Not Available

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

 

--

NB

New Business

 

--

 

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SOUTH AFRICA - ECONOMIC OVERVIEW

 

South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; and a stock exchange that is Africa’s largest and among the top 20 in the world.

 

Even though the country's modern infrastructure supports a relatively efficient distribution of goods to major urban centers throughout the region, unstable electricity supplies retard growth. Economic growth has decelerated in recent years, slowing to just 1.5% in 2014. Unemployment, poverty, and inequality - among the highest in the world - remain a challenge. Official unemployment is roughly 25% of the work force, and runs significantly higher among black youth. Eskom, the state-run power company, is building three new power stations and is installing new power demand management programs to improve power grid reliability. Load shedding and resulting rolling blackouts gripped many parts of South Africa in late 2014 and early 2015 because of electricity supply constraints that resulted from technical problems at some generation units, unavoidable planned maintenance, and an accident at a power station in Mpumalanga province. The rolling black outs were the worst the country faced since 2008. Construction delays at two additional plants, however, mean South Africa will continue to operate on a razor thin margin; economists judge that growth cannot exceed 3% until electrical supply problems are resolved.

South Africa's economic policy has focused on controlling inflation; however, the country faces structural constraints that also limit economic growth, such as skills shortages, declining global competitiveness and frequent work stoppages due to strike action. The current government faces growing pressure from urban constituencies to improve the delivery of basic services to low-income areas and to increase job growth.

 

Source : CIA

COMPANY NAME

 

DÉCOR TRENDS (PTY) LTD

 

Company Address

 

PHYSICAL ADDRESS:              53 Ocean Spirit Avenue

Sandrift

MILNERTON

Cape Town

 

TELEPHONE NUMBER:            +27 24 421 3762

 

On investigation it was established that the supplied telephone number of +27 24 421 3762 is a non-existent number.  A search utilising the registered name of the company revealed a list of various décor trends, however, no specific details with regards to an entity with the registered name of DÉCOR TRENDS (PTY) LTD.  A further search at Google Maps utilising the supplied address revealed a residential address with no contact or company details available.  An attempt was then made to establish contact on +27 21 421 3762, being the correct dialling code for the Cape Town region, which was answered by the STATE BANK OF INDIA, who confirmed that the subject banks with them, however, declined to confirm any further information.  A further search utilising the Director’s name of Ankit Sharma revealed numerous persons with this name, however, none linked with this company, and a Director search at CIPC revealed no additional contact details for the Director. 

 

It is requested that should our client be in possession of further contact details, that the investigator be advised accordingly so that further investigations may be instituted. In the absence of current and general company information, however, we are unable to recommend maximum credit dealings.

 

Nevertheless, please see statutory information obtained from CIPC below:

 

 

COMPANY NAME

 

DÉCOR TRENDS (PTY) LTD

 

                                                

ADDRESSES ON CIPC

 

PHYSICAL ADDRESS:              53 OCEAN SPIRIT AVENUE

                                                 SANDRIFT

                                                 MILNERTON

                                                 WESTERN CAPE

                                                 7441

           

POSTAL ADDRESS:                  53 OCEAN SPIRIT AVENUE

SANDRIFT

MILNERTON

WESTERN CAPE

7441

 

 

DIRECTORS

 

ANKIT DUTT SHARMA

ID No. L3340469

Residential Address: 53 OCEAN SPIRIT AVENUE SANDRIFT MILNERTON

WESTERN CAPE 7441

Postal Address: 53 OCEAN SPIRIT AVENUE SANDRIFT MILNERTON

WESTERN CAPE 7441

Date Appointed: 2015-02-05

 

 

DATE REGISTERED

 

05 February 2015

Registration Certificate Number: 2015/015876/07

 

 

VAT NUMBER    

 

4420269328

 

 

TAX NUMBER

                                       

9415924175

 

 

AUDITORS

 

None listed at CIPC

 

                        

YEAR END

 

February

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.63

UK Pound

1

Rs.101.73

Euro

1

Rs.73.26

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NIT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.